The company reported profit of almost RON650,000, compared with RON1.5 million in the first three months of 2011.
Revenue decreased by 22.3%, to RON25.5 million from RON32.9 million, while expenses were cut by 20.6%, to RON24.9 million from RON31.4 million.
On Tuesday on the Bucharest Stock Exchange, Armax Gaz traded down 2.21% at RON0.0665 per share.
The company is 42.62% owned by general manager Mircea Simion Vescan, while the remaining 57.37% is in the hands of various other shareholders. (EUR1=RON4.4411)